With every new token circulating in the market, they should add up some value and have their own share of total dominance by price.
But for some years, we are having an increasing number of new coins and tokens being traded but still bitcoin is increasing it's dominance.
According to coinmarketcap, bitcoin now holds a 42% dominance. i.e. the 42% of total capitalization of cryptocurrencies is that of bitcoin.
How is it possible? Are altcoins failing?
Bitcoin is still a coin paforit of investors to date, in addition to be used as a tool of transactions, bitcoin is also used as an asset to store wealth.
I think altcoin does not fail, they are present as a complement of bitcoin, they present fix every deficiency of the coin predecessor, and each altcoin has a different purpose.